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Amount Received by Machine Shop given Profit Rate Formula

GoAmount Received by Machine Shop given Profit per Component Formula

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Amount Received For Each Component is the amount of money the machine shop receives for machining each component. Check FAQs

S = (MPR \cdot t p) + C pr

S - Amount Received For Each Component?MPR - Maximum Profit Rate?t_p - Average Production Time?C_pr - Production Cost of Each Component?

Amount Received by Machine Shop given Profit Rate Example

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With units

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Here is how the Amount Received by Machine Shop given Profit Rate equation looks like with Values.

Here is how the Amount Received by Machine Shop given Profit Rate equation looks like with Units.

Here is how the Amount Received by Machine Shop given Profit Rate equation looks like.

19999.9969 = (8.2508 \cdot 10.1) + 15000

19999.9969 = (8.2508 \cdot 10.1min) + 15000

19999.9969 = (8.2508 \cdot 10.1) + 15000

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Amount Received by Machine Shop given Profit Rate Solution

Follow our step by step solution on how to calculate Amount Received by Machine Shop given Profit Rate?

FIRST Step Consider the formula

S = (MPR \cdot t p) + C pr

Next Step Substitute values of Variables

∴

S = (8.2508 \cdot 10.1min) + 15000

Next Step Convert Units

∴

S = (8.2508 \cdot 606s) + 15000

Next Step Prepare to Evaluate

∴

S = (8.2508 \cdot 606) + 15000

Next Step Evaluate

∴

S = 19999.99692

LAST Step Rounding Answer

∴

S = 19999.9969

Amount Received by Machine Shop given Profit Rate Formula Elements

Variables

Amount Received For Each Component

Amount Received For Each Component is the amount of money the machine shop receives for machining each component.

Symbol: S

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Amount Received For Each Component

Maximum Profit Rate

Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.

Symbol: MPR

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Maximum Profit Rate

Average Production Time

Average Production Time is the time taken to produce a single component out of a lot of produced batches.

Symbol: t_p

Measurement: TimeUnit: min

Note: Value should be greater than 0.

Formulas to find Average Production Time

Production Cost of Each Component

Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.

Symbol: C_pr

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Production Cost of Each Component

Other Formulas to find Amount Received For Each Component

Go Amount Received by Machine Shop given Profit per Component

S = P + C pr

Other formulas in Maximum Efficiency category

Go Cost of Production given Profit per Component

C pr = S - P

Go Profit per component produced

P = S - C pr

Go Rate of Profit

MPR = \frac{S - C pr}{t p}

Go Production Time per component given Profit Rate

t p = \frac{S - C pr}{MPR}

How to Evaluate Amount Received by Machine Shop given Profit Rate?

Amount Received by Machine Shop given Profit Rate evaluator uses Amount Received For Each Component = (Maximum Profit Rate*Average Production Time)+Production Cost of Each Component to evaluate the Amount Received For Each Component, The Amount Received by Machine Shop given Profit Rate is a method to determine the amount to be paid to the machine shop when the profit per unit time has been fixed for them. Amount Received For Each Component is denoted by S symbol.

How to evaluate Amount Received by Machine Shop given Profit Rate using this online evaluator? To use this online evaluator for Amount Received by Machine Shop given Profit Rate, enter Maximum Profit Rate (MPR), Average Production Time (t_p) & Production Cost of Each Component (C_pr) and hit the calculate button.

FAQs on Amount Received by Machine Shop given Profit Rate

What is the formula to find Amount Received by Machine Shop given Profit Rate?

The formula of Amount Received by Machine Shop given Profit Rate is expressed as Amount Received For Each Component = (Maximum Profit Rate*Average Production Time)+Production Cost of Each Component. Here is an example- 17787.6 = (8.25082*606)+15000.

How to calculate Amount Received by Machine Shop given Profit Rate?

With Maximum Profit Rate (MPR), Average Production Time (t_p) & Production Cost of Each Component (C_pr) we can find Amount Received by Machine Shop given Profit Rate using the formula - Amount Received For Each Component = (Maximum Profit Rate*Average Production Time)+Production Cost of Each Component.

What are the other ways to Calculate Amount Received For Each Component?

Here are the different ways to Calculate Amount Received For Each Component-

Amount Received For Each Component=Profit Per Component+Production Cost of Each Component

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Amount Received by Machine Shop given Profit Rate Formula

​GoAmount Received by Machine Shop given Profit per Component Formula

Amount Received by Machine Shop given Profit Rate Example

Amount Received by Machine Shop given Profit Rate Solution

Amount Received by Machine Shop given Profit Rate Formula Elements

Other Formulas to find Amount Received For Each Component

Other formulas in Maximum Efficiency category

How to Evaluate Amount Received by Machine Shop given Profit Rate?

FAQs on Amount Received by Machine Shop given Profit Rate

Variable Name

GoAmount Received by Machine Shop given Profit per Component Formula